OFI Invest Asset Management Has $18.32 Million Stock Holdings in SailPoint, Inc. $SAIL

OFI Invest Asset Management lifted its stake in SailPoint, Inc. (NASDAQ:SAIL) by 79.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 905,653 shares of the company’s stock after acquiring an additional 401,431 shares during the quarter. OFI Invest Asset Management’s holdings in SailPoint were worth $18,321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SAIL. Royal Bank of Canada acquired a new position in shares of SailPoint in the first quarter worth $1,146,000. Goldman Sachs Group Inc. acquired a new position in shares of SailPoint in the first quarter worth $7,546,000. JPMorgan Chase & Co. acquired a new position in shares of SailPoint in the second quarter worth $692,000. Rhumbline Advisers acquired a new position in shares of SailPoint in the second quarter worth $1,047,000. Finally, New York State Common Retirement Fund acquired a new position in shares of SailPoint in the second quarter worth $572,000.

SailPoint Price Performance

SAIL stock opened at $12.41 on Thursday. SailPoint, Inc. has a 52-week low of $11.52 and a 52-week high of $24.95. The company has a 50-day moving average of $14.20 and a two-hundred day moving average of $18.28. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of -22.16 and a beta of 2.38.

SailPoint (NASDAQ:SAIL) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. SailPoint had a negative net margin of 25.20% and a positive return on equity of 1.95%. The company had revenue of $294.65 million during the quarter. During the same quarter last year, the company earned ($4.29) earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SAIL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SailPoint in a research note on Monday, December 29th. The Goldman Sachs Group lowered their target price on shares of SailPoint from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, March 19th. Mizuho lowered their target price on shares of SailPoint from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. TD Cowen lowered their target price on shares of SailPoint from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Finally, Barclays lowered their target price on shares of SailPoint from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.35.

About SailPoint

SailPoint Technologies Holdings, Inc (NASDAQ: SAIL) is a leading provider of enterprise identity governance solutions that enable organizations to manage and secure user access across on-premises, cloud and hybrid IT environments. Its software automates identity lifecycle management, access certifications, policy enforcement and privileged account governance, helping enterprises reduce security risks, maintain regulatory compliance and streamline IT operations. The company’s flagship offerings include IdentityIQ, a comprehensive on-premises platform, and IdentityNow, a cloud-native identity governance-as-a-service solution.

Founded in 2005 by industry veterans Mark McClain and Kevin Cunningham, SailPoint is headquartered in Austin, Texas.